Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1887-03-11
GREAT RAILROAD DEAL.
A NEW TRUNK SYSTEM 49, 900 MILES
OF TRACK.
Baltimore and ohio, n. j. Central, philn
aud Heading, Ricnmond Terminal,
Richmond and DHnvilIe, East Tenn.
Va and Ga, Ga. Central, All to
Make one system.

NEW YORK, March 1t was positively
stated to day at Alfred Sully's Offices in
the Boreal binding that he had bought a
controlling interest in the Baltimore and
ohio railroad from President Robert Gar
rctt, but his representative was not at lib
crty to give any of the details Of the trans
action. The control Of the telegraph
company and the express also goes with
the railroad This is regarded as one of
The greatest railroad deals ever made.
Mr.. Sullv and the syndicate he repre-
sents, by this great scheme will have con
troll of 4 system of railroads embracing
10000 miles of track This system will
include the New Jersey Central. phila-
delphia aud Reading, Richmond Terminal
Richmond and Danville, the East Ten.
nessee, Virginia and Georgia, the Central
railroad of Georgia and the Baltimore
ana Ohio. Included in the syndicate it is
said are George :. Scott, Austin Corbiu.
| Calvin :. Bricc, General Samuel Tuomas
John &. Moore and others. 1t is under
stood that the lrice of the controlling in
| tcres' IS about Sl5,O0O,0OO.
banker stated that the Garrett trust
| stock of 10000 shares, the Johns Hopkins
/ university stock of 1000 shares, and the
] city OF Baltimore stock of 81 600 shares
/ would he placed in escrow against which
! there would probably be Issued 81 .OUO,-
! 600 iive per cent long time bonds, and the
/ balance OF purchase money Is paid in cash.
me deal was the general subject Of con
| Ntrsatipn IN Wall street to-day, and The
/ stock market was very strong in couse
/ qutnce If the bail feeling impaired by the
/ cun~lmmatiOn of sucn Il big scheme
| The executive committee OF the Rich
! mont Terminal company met to day to
| consider the matter OF absorbing the Bal
| tlmure and ONO and other systems. Ac-
ton was deferred until 10 morrow. 1t is
understood that the purchase of the Baltl-
more and ONO stock viii be provided for
by collateral trust in which the Btlti-
more and ONO stock will be placed and
| me bonds taken by syndicate The cOun-
| SCI Tor the company are now at work on
the details OF the agreement
The Feeling in Baltimore.
BALTIMORE, March 9.-Much discussion
has been had this afternoon in regard to
the Baltimore and ohio deal. Seventeen
thousand shares Of stock Of the Baltimore
and OHIO ~tock is believed by many to have
been disposed Of Several Of the trustees
we're approached and they all declined to
speak of the matter. This rctictnca has
lea many to believe that Johns Hopkins
university has sold its holding. Yester-
day the Baltimore and ONO shares were
offered at the stock exchange Tor 40 with
no bidders. To-day 90 shares were sold at
$50. The Western Union Telegraph stock
sold today at 81 , but before the close
fell to - | .
While tonight the general impression
here l. that some sort of an ARRANGEMENT
has been made for the surrender of the
cOntrol of the Baltimore and Ohio rail
road, it is positively stated bv Il gentle
man who is near to Garrett that no agree
ment or contract exists for such trans
fer. He at the same time stated that
syndicate will probably be formed OF
which Garrett will be "a member for the
working of such a railroad system as is
spoken of. He further said there i no
law to prevent the pooling by proxy of all
the shares owned by the Garrett family
ana enough Of the others TO make Il ma
Jorlty of the stock for any deal the road
authorities may deem desirable. He also
SAID $3.50 per share had been offered before
and refused for the transfer of majority
OF the stock. 1t was said this evening that
an offer of $G,OO0OOO had been made for the
Baltimore and ohio telegraph system and
- GOO 600 for the express business. both of
which had been declined.